Which category of funds focuses on financial resources available for current spending?
A)Enterprise-type funds
B)Proprietary-type funds
C)Governmental-type funds
D)Fiduciary-type funds

Question

Quizplus · Accepted Answer

Governmental-type funds focus on financial resources available for current spending in the governmental entity. These funds are used to account for resources earmarked for specific purposes, such as public safety, education, and public works. They are intended to account for the flow of financial resources used by the governmental entity to provide services to the general public. Examples of governmental-type funds include general funds, special revenue funds, debt service funds, and capital projects funds.

Which Category of Funds Focuses on Financial Resources Available for Current